;
Home > News > Halfway There: House Expands Historic Tax Credits

Halfway There: House Expands Historic Tax Credits

The House of Representatives passed enhancements to the Federal Historic Tax Credits last week as part of a $1.5 trillion Infrastructure Bill. Thanks to all of you who signed our letter to the New York State Delegation asking for their support of expanded tax credits. The credits should be one of the keys to New York’s economic recovery. So, we’re halfway there.

Now we have to make sure our Senators push for these provisions when the Senate takes up its stimulus bill.

The House bill has temporary increases in the amount of credits for all projects from 20% to 30% through 2024; decreasing to 26% in 2025 and 25% in 2026. It also extends the deadlines for completion by a year so that projects impacted by COVID interruptions don’t lose the credits. And it allows use of the credits to rehab schools.

The House also permanently approved much of what preservation organizations have been asking for: projects of $2.5 million or less will be eligible for 30% credits. And it will be easier for non-profits to use the credits.

Your Voice Matters: Please Help Get This Done
Please email Senators Kirsten Gillibrand and Charles Schumer saying: “Please ensure that the Senate stimulus bill mirrors the federal tax credit expansions passed by the House in HR2.”

Support Us

Donate

Your donation helps us expand our reach and be your voice for preservation.

Make A Donation

Become A Member

Join the Conservancy and be part of our mission to save New York’s extraordinary architectural heritage.

Join Us

Join Our Mailing List

Sign up to receive our free E-Newsletter, informative alerts, our monthly Mystery Landmark contest, and our monthly Tourist in Your Own Town video series.


By submitting this form, you are consenting to receive marketing emails from: The New York Landmarks Conservancy, New York Landmarks Conservancy, New York, NY, 10004, http://www.nylandmarks.org. You can revoke your consent to receive emails at any time by using the SafeUnsubscribe® link, found at the bottom of every email. Emails are serviced by Constant Contact